Normal balloon catheter, an innovative medical device, comprises a catheter and a guidewire that is inserted into femoral artery in the legs, or, sometimes into radial artery in arms for treating constricted blood vessels. Generally normal balloon catheter is utilized for preventing blood vessel constriction, which is caused by atherosclerosis, i.e. deposition of the lipid substances in blood vessels.
The surge in interventional cardiology has been facilitating the utilization of normal balloon catheters. Moreover, there is a rise in prevalence of patients affected with the end stage renal disease. The number of patients seeking for renal replacement therapy has also increased. Leading manufacturers of normal balloon catheters are developing efficient and cost-effective solutions. These incidences might influence growth of the global normal balloon catheter market in the upcoming years. In contrast, costs of angioplasty procedures are very high, coupled with the risks such as artery collapse and infection related to balloon catheterization, which in turn will impede growth of the market.
The number of cardiovascular diseases has been witnessing a rise, along with growing cases of cardiology intervention procedures worldwide. Several governments are providing reimbursement support for people suffering from vascular diseases. There has also been a hike in healthcare expenditure. These factors might favor demand for normal balloon catheters. In addition, various other factors such as growing geriatric population, rising investments in research & development activities concerning normal balloon catheters are expected to pave potential growth opportunities for manufacturers of normal balloon catheters. The global market for balloon catheter is likely to exhibit a moderate growth during 2017 to 2022. Revenues from the global market for normal balloon catheter will reach nearly US$ 2,000 Mn by 2022-end.
Europe to Account for the Largest Revenue Share of the Market during 2017 to 2022
In terms of revenues, Europe will account for the largest share of the market during the forecast period. Europe will continue to be the most lucrative market for normal balloon catheter. Sales of normal balloon catheter in Asia-Pacific excluding Japan (APEJ) will register the highest CAGR through 2022. In contrast, sales of normal balloon catheter in North America will exhibit the lowest CAGR in the market through 2022.
By indication, coronary artery disease will remain dominant in the global market, with sales poised to surpass US$ 1,000 Mn in revenues by 2022-end. Approximately three-fourth revenue share of the market will be accounted by sales of normal balloon catheter for coronary artery disease during 2017 to 2022.
Hospitals to Remain the Largest End-Users of Normal Balloon Catheter
Sales of normal balloon catheter in cardiac catheterization laboratories are expected to exhibit the fastest expansion through 2022, based on end-users. Hospitals will remain the largest end-users of normal balloon catheter throughout the forecast period.
Nylon will continue to be the preferred raw material for manufacturing normal balloon catheter. Nearly half revenue share of the market will be accounted by nylon, based on raw material. However, sales of polyurethane for production of normal balloon catheter will register a comparatively higher CAGR than sales of nylon through 2022.
Key players profiled in Fact.MR’s report include Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Terumo Corporation, MicroPort Scientific Corporation, B. Braun Melsungen AG, Meril Life Sciences Pvt. Ltd., Hexacath, Tokai Medical Products Inc., Cook Medical INC, Cordis Corporation, and BIOTRONIK SE & Co. KG.